default-banner

Services


VA Loans

The VA Loan program was established in 1944, as part of the Servicemen’s Readjustment Act, to help American veterans obtain home loans where private financing may not be available. VA mortgages are partially guaranteed by the U.S. Department of Veterans Affairs (VA). This guarantee makes it possible for Veterans to receive very favorable loan terms and conditions such as 100% financing and no mortgage insurance premium. MBA Mortgage is dedicated to serving each and every one of our veterans throughout Texas.

Since the establishment of the VA loan over 70 years ago, The Department of Veterans Affairs has guaranteed more than 20 million loans. Most veterans, military, and spouses of deceased military members are eligible to apply for a VA loan. In order to qualify for the program, borrowers will need to meet certain credit and income requirements. A Certificate of Eligibility (COE) must also be acquired before applying for a VA Loan. Veterans will find there are many advantages that the VA loan program offers.

Benefits of a VA loan:

No down payment if the appraised value is greater than or equal to the sale price.

No private mortgage insurance (PMI) premium.

No pre-payment penalty.

Closing costs are limited by VA regulation.

VA funding fees (up to 3.3%, 2.15% for first time use) can be financed with the loan. No funding fee if VA rates you at or over 10% disabled

The VA Loan is an assumable loan.

Up to $417,000 loan amount. This can be higher in certain counties.

Country Single-Family Duplex Triplex Fourplex
Bexar $417,000 $533,850 $645,300 $801,950
Comal $417,000 $533,850 $645,300 $801,950
Hays $417,000 $533,850 $645,300 $801,950
Medina $417,000 $533,850 $645,300 $801,950
Travis $417,000 $533,850 $645,300 $801,950
Williamson $417,000 $533,850 $645,300 $801,950

VA loans are available for many different circumstances and individual borrower needs. The most common types of VA loans are:

Purchase Loans – These types of loans allow veterans to purchase a primary residence at a competitive interest rate. VA Loans cannot be used solely for investment or rental property purchases. The borrower must live in the purchased residence.

Cash Out Refinance Loans – This alternative loan is available for Veterans who have already purchased a home, yet need cash for things such as home improvements, schooling, or managing certain debts.

Interest Rate Reduction Refinance Loan (IRRRL) – Veterans can refinance existing VA loans can at a lower rate through this program. This type of refinancing is also referred to as a Streamline Refinance Loan.

There are many resources and loan programs available to American veterans. At MBA Mortgage, we specialize in helping the many Veterans throughout Texas find the financing they need. Whether you are looking to purchase your very first home, or are looking to refinance an existing VA loan, our team of experts is here to help you. For more information on VA loans and the many financing options available, contact us today.

What our clients say

If you care about honesty, expertise and professional guidance then, MBA Mortgage, is the top firm in Laredo for you. Since I have met Gino I have co...
Angela Lutz over at MBA Mortgage is prompt, secure and uncanny in her ability to save you money. We did extensive research both locally & online to se...
I have used Angela's services three times now over the past few years. Our mortgage experiences have been quick and painless. Angela provides very per...
Angela Lutz is all of the above and more. She made my whole process so smooth . I couldnt believe how easy it was because Angela Lutz is very knowledg...
Angela assist my family and I, in purchasing our dream home sometime in 2011. Working with Angela and her company was a pleasure, she is a true profes...
Angie is wonderful, she has financed 2 houses for our family and I highly recommend her. She is very knowledgeable and is willing to walk you step by ...

The staff at MBA were very professional and made my refinance a quick and painless experience. I highly recommend them!

Working with Gino Lutz from MBA Mortgage (DBA Commonwealth Mortgage of Texas, LP) has been one of the best experiences for my boyfriend and myself ...

I met Gino back in 2010 while I was in the market for my very first home. I was young, oblivious to all things real estate, and with a rather less...

© Copyright 2017 MBA Mortgage, All Rights Reserved
Back to Top